Kuala Lumpur (Agencies) – In a significant move towards diversifying its economic partnerships, Malaysia is gearing up to join the BRICS group, an emerging economic bloc consisting of Brazil, Russia, India, China, and South Africa. Prime Minister Anwar Ibrahim announced the decision during an interview with Chinese media outlet Guancha, as reported by Reuters.

BRICS, which represents some of the world’s leading emerging economies, has been expanding its membership to challenge the Western-dominated global economic order. The inclusion of Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the UAE last year marked the beginning of this expansion, with over 40 other countries showing interest in joining.

“We are finalizing the formal procedures soon… we are just awaiting confirmation from South Africa,” stated Anwar in the interview video posted by Guancha.

Anwar’s office confirmed his remarks on Tuesday but did not elaborate on the specifics of the application process.

The announcement comes at a strategic time as Chinese Premier Li Qiang is set to visit Malaysia for three days this week. The visit coincides with the 50th anniversary of diplomatic ties between Malaysia and China and is expected to see the signing of several agreements, including a renewal of a five-year trade and economic cooperation pact.

By Media

Leave a Reply

Your email address will not be published. Required fields are marked *

Translate »